by Richard Simpson | Dec 20, 2018 | The Bean Counter, The Captain, Xero
Business that fail tend to fail because of cash flow problems. Good cash flow management means ensuring that you do everything within your power to ensure that money flows into your business as quickly as possible and also that it exits your business as slowly as...
by Richard Simpson | Sep 23, 2015 | The Bean Counter
1st October 2015 sees the new national minimum wage and worth noting that it’s the largest increase to the national minimum wage since 2007. The NMW charges are as follows:- Adult aged 21 and over increased by 20 pence to £6.70 per hour 18 to 20 year olds increased by...
by Richard Simpson | Aug 16, 2015 | The Bean Counter
In the summer budget the government announced new rules to come into effect from 6 April 2016. These rules included a tax on dividends at a rate of 7.5% however they also include a Dividend tax allowance of £5000 per year. This will likely mean a increase in tax for...
by Richard Simpson | Mar 16, 2015 | The Bean Counter
Cars don’t usually qualify for the annual investment allowance. For several years though it has been possible to claim a 100% first year allowance (FYA) on low CO2 emission cars. This tax break was due to end on 31 March 2015 but on 17 February 2015 new legislation...
by Richard Simpson | Aug 18, 2014 | The Bean Counter
These are some of the important dates for September: 1 September 2014 – Corporation Tax due for 30 November 2013 year ends. 7 September 2014 – VAT due for VAT quarters ended 31 July 2014. 19 September 2014 – PAYE and NIC deductions due for payroll month 2 (ended 5...
by Richard Simpson | Aug 18, 2014 | Free Agent, The Bean Counter
The Flat rate VAT scheme was provided to try to help simplify tax for small business owners. Basically it means that whilst you charge VAT to your customers at 20% you actually pay the money over to HM Revenue and customs at a lower rate. (The actual rate is...
